Morgan Stanley Maintains Equal-Weight on Marriott International

Morgan Stanley is out with its report today on Marriott International MAR, maintaining Equal-weight. In its report, Morgan Stanley writes, "While we believe investors will be focused on MAR's forward guidance and commentary regarding booking trends, unless MAR shows improvement narrowing the gap between its results and the industry, we see little upside from 3Q earnings. In our view, we think 2012 RevPAR guidance above 5% will be viewed skeptically, and positive commentary on group booking trends and corporate rate negotiations will be largely dismissed due to macro uncertainty." Morgan Stanley maintains a $31 PT on MAR. Shares of MAR closed Friday at $27.24, down 5.09% from Thursday's close.